Ferguson was due to make $8 million dollars this season with a base salary of $7.25 million and a $750,000 workout bonus for a total cap hit of $10.716 million. The new contract looks like this:

-A base salary of $840,000, the league minimum for a player with seven accrued seasons.

-The remaining $6.41 million will be converted into a signing bonus prorated over the next five seaosons.

-The $750,000 workout bonus will not be changed.

The Jets have cleared $5.1 million dollars in cap space due to this new move.

There are two things that stood out to me: What are the Jets clearing cap space for? The obvious speculation is a deal for Chris Ivory is imminent. Also, D’Brickashaw has been in the league for seven years? It seems like just yesterday he was taken fourth overall…